IBFX is a global forex broker that is an excellent choice for beginners: with no requirement for the minimum deposit and nano-lot trading, you can start trading with an investment as tiny as let's say $10. Add to this the broker's extensive educational section, and you have an outstanding starting point in forex.

More advanced traders are also taken care of: for them, there is a large variety of extras, such as the Autochartist pattern recognition tool, a volatility indicator, risk calculator, Expert Advisors, etc.

IBFX's advantages don't stop here, though. One of the things we quite like about it it is that it is quite transparent and publishes data about its spreads and execution time on its website. This is how we know that the average execution time for the past year is 26 milliseconds, and 99.81% of the trades are filled at the requested price. Traders have access to a deep pool of liquidity providers via the MetaTrader 4 (MT4) and Trading Station platforms and a choice between Standard and Mini accounts.

Mirror trading is also available through the broker's very own social trading network IBFX Connect.

Two more treats that you will find with IBFX are the VPS (offered with exclusive conditions to traders with equity if $5,000+) and the IBFX debit card that can be used for faster and more convenient payments.

Security wise, IBFX falls under the draconian requirements of the NFA and the CFTC in the US – nothing to be concerned about here.

Spread

Our SpreadMonitor is designed to scan IBFX quotes tick by tick and to provide you with unbiased information about the average, minimum and maximum spread for a certain timeframe.

Although spreads are an important factor in choosing a forex broker, you also should take into account commisions, slippage, regulation and broker's reputation.

Slippage

Slippage is the difference between the price you’ve placed your market or pending order at and the price broker have executed it at. Our slippage data is sampled from over 1000 real accounts, following the top 10 Zulutrade signal providers. Unfortunately IBFX is not among Zulutrade's partners and we can't provide you with unbiased info on its slippage.

During volatile market your pending orders may be filled with positive as well as with negative slippage.

Keep in mind that slippage may vary from trader to trader, depending on trading style, liquidity during the time of day when orders are executed, server location, network lag etc. Trading during volatile market (e.g. news releases) and low liquidity times (e.g. pre-Tokyo open Asian session) can lead to excessive slippage. To find our what is the slippage on your own trades with IBFX or any other MT4 broker, download our free EA.

Requotes

IBFX doesn't requote - all market orders are executed at first available price.

Price feed

IBFX is an STP broker, providing its clients with access with access to deep liquidity from 10 global banks including J.P. Morgan, Bank of America, Citigroup and Goldman Sachs. With so many liquidity providers you can be sure that there is no price manipulation and stop hunting.

This multi-bank liquidity allows IBFX's smart routing system to direct your trade to the right liquidity provider and get it executed in under 0.05 seconds. IBFX rejects less than 0.2% of the orders.

-One-click-execution - IBFX MT4 comes with Mini Terminal plugin, allowing you to execute an order with a single click.

-Autochartist - IBFX has seamlessly integrated the chart pattern recognition plugin into their version of MT4

-Build and backtest your own automated trading strategies. If you are not familiar with MT4 program language, you can choose from numerous preloaded custom tools, indicators and EAs.

Deposit/Withdraw

Deposit

Withdraw

Bank Wire
Credit Card
Check

Bank Wire
Credit Card
Check

Interbank FX is one of the few forex brokers providing traders with free debit card. With the Prepaid MasterCard traders have on-demand access to their Forex account. The Global Debit Card that can be used anywhere that MasterCard is accepted, regardless of country or currency.

IBFX charges $50 inactive account fee per month. An "inactive account" is defined as an account which has no open trades and has had neither a trade opened or closed nor a deposit made in the past nine months.

Customer service

IBFX Customer service reps are available 24/7. They are really polite and ready to help.

I have traded with a number of Forex brokers and so far IBFX is my favorite. Their spreads are not as competitive as the ones of other brokers, however if you look at the slippage you get there as opposed to the slippage from other brokers, in the long run IBFX is way better (here I’m not factoring trading during news releases due to the nature of that type of trade). IBFX has also proven to be faster than most of the other brokers I have used - so kudos!

I don't trade news so I can't comment on the frozen data/platform issues mentioned. I will say that when I did trade news in the past, I've experienced that issue with almost every broker I've used live. Oanda, CMS, and FX Solutions have all frozen up on me before during NFP and other high volatile periods.

I have yet to have any issues with any of IBFX's business practices. Withdrawals have been quick and seamless. I've even picked up a check from their office with no issues. The few customer service experiences went well and issues were resolved quickly. Although it did seem like I had to explain myself quite a few times. I'm pretty sure they're trained to find keywords in the inquery and then revert to a script like most customer service desks run in any business.

Spreads do widen and sometimes during periods of little activity which is sort of odd. But 3-5 pips here and there doesn't matter with my trading style.

Their custom version of MT4 has a lot of great bells and whistles for one click opening/closing/modifiying of trades. And they also provide a host of great trading tools and indicators.

In a zero-sum game, there will be a winner, and a looser. 99% of forex traders are losers. They blow their accounts in a couple of weeks.

Losers blame the broker, the execution time, the quality of price feed and so on.

I've been trading with IBFX for over 3 years now. They are one of the largest and most reliable retail forex brokers out there. Their order matching system is second to none. Check the statistic on the IBFX's website. The average execution time is well below 0.1 second!

If you are a FX rookie, make sure you know the basics. Scalping and over-leveraged trading kill the majority of newbie traders. Don't blame your broker on that.

Needless to say I (and many others) got stung. I contacted their customer support, who said there was a clause in the customer agreement about their right to introduce the fee (which I don't dispute) but then when I asked to see a copy of the agreement, neither he, nor I, could find one on the website. Fair enough I signed when I opened the account, but I'd still like to be able to see a copy of it...

They basically seem pretty underhanded to me.

I can't give a balanced view of the trading experience, but the overall company seems pretty uncouth to pull this little trick...

On the one hand we have a handful of bad reviews for this broker from traders, while the Editors give them a higher ranking.

On the other hand, Interbank FX publishes their spread and execution stats, and have proven to be a very reliable broker in the 18 months that I've used them.

But I understand that pissed off people are more likely to post a bad review. But my experience has been good. Support is excellent and quite friendly. Execution for me has been great. And this is more than I can say for brokers I've traded with previously...

I worked for these guys for 3 years. Their operation is ok since their liquidity provider Forex Liquidity llc. was shut down.

IBFX offers leverage up to 50:1 and you folks are crazy if you trade at that leverage. Remember, your forex broker doesn't matter, trading spot forex is a loosing game. You will lose all your money and at 50:1 leveage you will lose it twice as fast.

Overall I have had a positive experience with this broker. They have had some server problems in the past but that seems to be fixed. Spreads are very competetive on most pairs.
In real life trading an actual transaction takes place, therefore re-quotes happen all the time for market orders when prices are changing quickly (DUH!!!) As far as stop hunting goes I've spent countless hours with both Alpari and MB trading feeds up on another computer and have never noticed a difference between them and IBFX. The FX market is not for the squeemish. Price spikes going against a trend happen ALL THE TIME! If it were easy it wouldn't be so potentially profitable. Sounds like most of the complaints on here are from people who either didn't do enough research to realize that a major news release was looming and it killed their trade or expected to be able to place a market order without getting requoted to death during one of those news releases. (US Non-Farm Payroll anyone? Been there, done that) And, any variable spread broker that DOESN'T increase sperads during times of extreemly low liquidity is the one you should be wary of. My point is not to defend IBFX but to counter-act most of the crap I've been reading.

Their trading desk grabbed a $1600 profit from me at market open on one Sunday back in April 2009. I had a buy to cover a short order. They closed out my order exactly 1 hour before the market opened. They pocketed the 1600. They said that was policy. I took my trading elsewhere after that fiasco.

Taking a position with this broker is up to you but closing it is up to IBFX. They will not let you close your trade when you are in a good profit. You will close it only when you have lost a lot. I had heard many things about stop loss hunting and trading against the traders by the broker but I had never experienced them personally until I opened an account with IBFX. I have no doubt that they trade against the position of their clients because it is proved to me. I took the same position with another broker and could easily close it with profit but the same position with IBFX never went to a profit and even when I compared the charts I see the difference in the same currency pair and time frame. I know another trader who has experienced the stop loss hunting with IBFX.

I have traded with them since April and was impressed because they advertised,"no dealing desk" and they are suppose to be so honest. Well if you find yourself on the right side of a trade, they no only frequently re-quote you to keep you from closing out. They now have a new way to cheat you and it is off-quote. Whenever you are trying to close a profitable trade, the platform simply will not let you, until price starts moving against you. I ask them about this and they said it occurs when they get a different quote from the bank than the one you see on your screen. These things don't happen when you are learning how to trade, they only happen when you have a degree of competence and have a pretty good idea of what you are doing. The sad thing is you wait all day for the perfect set-up and then when you get it they won't allow you to have what you have worked so hard to earn. I give them to thumbs down.

Do yourself a favour... Check out every other broker on here before you look at IBFX. Why? Because if you check IBFX out first, you wont have a chance to see how poorly put together the other companies are! IBFX has great customer service, education, spreads, and neat add-ons for Metatrader.

The size of thier daily trades speaks for itself. Honestly, these guys are excellent, and with anonomous market execution, it means you are not dealing against your broker...
What more could you want?

IBFX is a great marketer but a very poor broker. They advertise tight spreads, competitiveness but they bounce the spread when no other broker has any widening. A scam operation to say the least. They market no dealing desk but all their liquidity providers have dealing desks so how is that they can advertise that they don't?

I've only been trading live with IBFX for 2 months. So, I can't compare to other brokers live. I've only demoed the others.
I have to make a comment on requotes/offquotes and those complaining about them.

You are moron if you think it's the company trying to screw your trade.

Let me explain something to you. Very simply put price moves. When it moves quick, if you are in a trade and try to close, the price can move away from that price point in the time it take your order to reach the server.

Quite simply if the price isn't there you aren't going to get it. When closes manually a trade turns into a market order. A market order says close at this price AND THIS PRICE ONLY.

I'm a Forex professional working in the business. These people cheat. They say they have a no dealing desk set-up yet they can offer better rates for corporate customers. Hello !!?? Requotes are the worst in the business and their spreads are the worst in the online world. Trust me, stay away. Scam.

I live traded with IBFX for several months. This is a word of caution to anyone in the world not to trade with IBFX. As soon as you are making a profit, IBFX will take action to disconnect you, and make you lose.

Their Live accounts platform is different from the demo accounts platform. On the demo account, they will give you the possibility to make trades at all times , even if you delay your order for few seconds. On a live account, many orders will get re-quote errors, till the trade slips to a point that makes you lose.

The system disconnections for those who use EAs is very common, then they blame your ISP, and your internet connection, despite the connection is working on many other things including their demo platform.

Crooks, that are out there to rob your money in what seems to be "legal way".

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